# [ISC] Q. 1 Retirement of Partner TS Grewal Solution Class 12 (2024-25)

Share your love

Solution to Question number 1 of the Retirement of Partner Chapter of TS Grewal Book ISC Board 2024-25 session.

Amit, Basu and Chirag are partners sharing profits in the ratio of 1/2, 3/10 and 1/5. Find new ratio of the remaining partners if: (i) Amit retires, (ii) Basu retires, and (iii) Chirag retires.

Solution:-

When a partner retires and information about the new profit-sharing ratio among the remaining or continuing partners is not given, it is assumed that remaining or continuing partners will share future profits and losses in their old profit-sharing ratio.

The old profit-sharing ratio of Amit, Basu, and Chirag after taking LCM 10 and making base equal is 5:3:2

Calculation of the New Profit-sharing Ratio of the remaining or continuing partners by striking out the share of the outgoing partner. Thus –

i) If Amit Retires, the New profit-sharing ratio between Basu and Chirag is 3:2

ii) If Basu Retires, New Profit Sharing ratio between Amit and Chirag is 5:2

iii) If Chirag Retires, the new profit-sharing ratio between Amit and Basu is 5:3

Here is the list of all solutions of Retirement of Partners TS grewal ISC class 12 (2024-25)

Share your love
##### Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his Youtube channel for free lectures

Articles: 6988